Yearly Archives 2013

The Ottawa Real Estate Board reported 891 unit sales in the month of November, a decrease of 4% compared with November 2012. The five year average for the number of sales in the month of November is 939 units. The number of new listings taken in the month decreased by .04% compared with November 2012. The average sale price increased again. At $356,676, it was up by 1.9% from November 2012 but was down from the previous month. The listing inventory is 5% above November 2012. The sales to listing inventory ratio was at 15% which is on the boundary betweenRead More

The snowy month of November brought with it a slower than average resale market in Ottawa. Members of the Ottawa Real Estate Board sold 891 residential properties in November through the Board’s Multiple Listing Service® system, compared with 928 in November 2012, a decrease of four per cent. The five-year average for November sales is 939. “The number of residential properties sold in November, excluding condos, was only down by five units compared to this time last year,” says Tim Lee, President of the Ottawa Real Estate Board. “Sales for the first eleven months of the year are at 13,267,Read More

Canada Mortgage and Housing Corporation (CMHC) expects total housing starts to be stable in 2014, as fundamentals such as employment growth and migration continue to support the Canadian housing market. That’s the forecast contained in CMHC’s fourth-quarter outlook report.Read More

The Ottawa Police Service Organized Fraud Unit is investigating public complaints of real estate fraud using online classified sites. Unknown suspects are duplicating genuine online postings of area properties at a drastically reduced asking price. To date, phony ads have been posted on Kijiji and ForSaleByOwner.ca. The suspect(s) represent themselves as agents for the property and provide a contact telephone number or e-mail to the public. It appears the suspect(s) are attempting to convince interested buyers to provide a “deposit.” In some cases the suspect has actually contacted the genuine sellers indicating they have clients interested in the property. TheRead More

The Ottawa Real Estate Board reported 1,090 unit sales in October, an increase of 2% compared with October 2012. The five year average for the number of sales in the month of October is 1,091 units. The number of new listings taken in the month increased by 6% compared with October 2012. The average sale price also saw an increase. At $360,085, it was up from the previous month and increased by 4.1% from October 2012. The listing inventory is 8% above October 2012. The sales to listing inventory ratio was at 16% which indicates a balanced market. All indicators pointRead More

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Members of the Ottawa Real Estate Board sold 1,090 residential properties in October through the Board’s Multiple Listing Service® system, compared with 1,069 in October 2012, an increase of two per cent. The five-year average for October sales is 1,091. “Resale units sold in October are right on par compared to the five-year average,” says Ansel Clarke, Past President of the Ottawa Real Estate Board. “This is a welcome change from the first half of 2013, where we saw continuous decreases, albeit small ones, in the number of units sold. We are also seeing average prices beginning to creep backRead More

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